David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Business Ethics 91 (1):1 - 19 (2010)
The debate on the influence of markets on virtues has focused on two opposite hypotheses: the doux commerce thesis and the self-destruction thesis. Whereas the doux commerce hypothesis assumes that capitalism polishes human manners, the self-destruction hypothesis holds that capitalism erodes the moral foundation of society. This paper will develop a more balanced position by using the virtue ethics developed by Aristotle, which distinguishes several virtues. The research will focus on the question for which virtues the doux commerce or self-destruction thesis is likely to hold. An extensive literature survey shows that market competition tends to stimulate diligence, crowd out temperance, generosity, and sociability, and stimulate envy. The effect on other virtues – i.e. courage, high-spiritedness, justice, and prudence – is ambiguous.
|Keywords||Aristotle capitalism competition doux commerce thesis free market market operation self-destruction thesis virtue ethics|
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Roger Crisp (2003). Equality, Priority, and Compassion. Ethics 113 (4):745-763.
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Citations of this work BETA
Albert D. Spalding & Alfonso Oddo (2011). It's Time for Principles-Based Accounting Ethics. Journal of Business Ethics 99 (S1):49-59.
George N. Gotsis & Zoe Kortezi (2010). Ethical Considerations in Organizational Politics: Expanding the Perspective. [REVIEW] Journal of Business Ethics 93 (4):497 - 517.
J. J. Graafland (2010). Calvin's Restrictions on Interest: Guidelines for the Credit Crisis. [REVIEW] Journal of Business Ethics 96 (2):233 - 248.
Johan J. Graafland & Bert W. Ven (2011). The Credit Crisis and the Moral Responsibility of Professionals in Finance. Journal of Business Ethics 103 (4):605-619.
Kevin Morrell & Ian Clark (2010). Private Equity and the Public Good. Journal of Business Ethics 96 (2):249 - 263.
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